Capitalism, or why American oil production is surging

Capitalism works. Profits drive economic growth, and higher prices incentivize increased production of otherwise scarce goods. A year ago, the United States Energy Information Administration forecasted that U.S. crude oil production for 2026 would average 13.3 million to 13.5 million barrels per day. Later in 2025, driven by stronger-than-expected output, the EIA raised its 2026 forecast […]

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